Atlas Copco Posts 3Q Earnings Beat, Sees Weaker Near-Term Demand
25 10월 2023 - 7:56PM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Atlas Copco on Wednesday posted a
larger-than-expected rise in third-quarter net profit, but
cautioned that near-term customer demand will weaken compared with
the three months to Sep. 30.
The Swedish industrial tool maker said net profit increased to
7.8 billion Swedish kronor ($701.2 million) in the quarter from
SEK6.53 billion a year earlier, as revenue rose 17% to SEK44.49
billion.
Analysts polled by FactSet had expected net profit of SEK7.3
billion on revenue of SEK43.64 billion.
The operating profit margin rose to 22.7% from 22.0%, while the
adjusted margin edged higher to 22.7% from 22.2%.
Atlas Copco said it received orders worth SEK42.61 billion in
the quarter, beating a FactSet analysts' forecast of SEK41.76
billion.
"Orders grew for large industrial compressors, while order
volumes for smaller industrial compressors and gas and process
compressors were unchanged," the company said.
"Order volumes for vacuum equipment decreased markedly,
primarily but not exclusively, driven by the significantly lower
demand from the semiconductor industry," it added.
Overall order intake increased in Europe and Asia but was
unchanged in North America.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
October 25, 2023 06:41 ET (10:41 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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